P&S: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
P&S
Largest movements
- Receivables within one year +€29,993
up €29,993 (+108%), from €27,858 to €57,851
of which Trade receivables: +€31,233
- Tangible fixed assets -€10,805
down €10,805 (-56.4%), from €19,166 to €8,361
of which Leasing and similar rights: -€9,223
- Stocks and contracts -€9,989
down €9,989 (-28.2%), from €35,396 to €25,407
of which Stocks: -€5,804
- Cash -€2,575
down €2,575 (-4.8%), from €53,660 to €51,086
mainly Receivables within one year (-€29,993) and Debts after one year (-€7,369)
- Reserves +€37,318
up €37,318 (+48.6%), from €76,796 to €114,113
- Profit (loss) carried forward -€13,900
down €13,900 (-100%), from €13,900 to €0
- Debts after one year -€7,369
down €7,369 (-100%), from €7,369 to €0
- Trade debts -€6,417
down €6,417 (-56.3%), from €11,402 to €4,985
- Accrued charges and deferred income -€2,500
down €2,500 (-100%), from €2,500 to €0
- Other operating charges -€25,858
down €25,858 (-96.3%), from €26,853 to €995
- Gross operating margin +€19,222
up €19,222 (+112%), from €17,113 to €36,335
- Taxes +€1,907
up €1,907, from €0 to €1,907
- Financial charges -€832
down €832 (-49.7%), from €1,673 to €841
- Depreciation -€768
down €768 (-6.6%), from €11,573 to €10,805
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €141,373 | €147,973 | +€6,600 | +4.7% |
| Fixed assets | 21/28 | €19,166 | €8,361 | -€10,805 | -56.4% |
| Tangible fixed assets | 22/27 | €19,166 | €8,361 | -€10,805 | -56.4% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €2,843 | €1,261 | -€1,582 | -55.6% |
| Leasing and similar rights | 25 | €16,323 | €7,100 | -€9,223 | -56.5% |
| Current assets | 29/58 | €122,207 | €139,612 | +€17,405 | +14.2% |
| Stocks and contracts in progress | 3 | €35,396 | €25,407 | -€9,989 | -28.2% |
| Stocks | 30/36 | €13,646 | €7,842 | -€5,804 | -42.5% |
| Contracts in progress | 37 | €21,750 | €17,565 | -€4,185 | -19.2% |
| Amounts receivable within one year | 40/41 | €27,858 | €57,851 | +€29,993 | +108% |
| Trade receivables | 40 | €14,812 | €46,046 | +€31,233 | +211% |
| Other amounts receivable | 41 | €13,045 | €11,805 | -€1,240 | -9.5% |
| Cash at bank and in hand | 54/58 | €53,660 | €51,086 | -€2,575 | -4.8% |
| Deferred charges and accrued income | 490/1 | €5,293 | €5,268 | -€25 | -0.5% |
| Total equity and liabilities | 10/49 | €141,373 | €147,973 | +€6,600 | +4.7% |
| Equity | 10/15 | €96,895 | €120,313 | +€23,418 | +24.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €76,796 | €114,113 | +€37,318 | +48.6% |
| Distributable reserves | 133 | €76,796 | €114,113 | +€37,318 | +48.6% |
| Profit (loss) carried forward | 14 | €13,900 | €0 | -€13,900 | -100% |
| Amounts payable | 17/49 | €44,478 | €27,660 | -€16,817 | -37.8% |
| Amounts payable after more than one year | 17 | €7,369 | €0 | -€7,369 | -100% |
| Financial debts | 170/4 | €7,369 | €0 | -€7,369 | -100% |
| Amounts payable within one year | 42/48 | €34,608 | €27,660 | -€6,948 | -20.1% |
| Current portion of amounts payable after more than one year | 42 | €9,569 | €7,369 | -€2,200 | -23.0% |
| Trade debts | 44 | €11,402 | €4,985 | -€6,417 | -56.3% |
| Suppliers | 440/4 | €11,402 | €4,985 | -€6,417 | -56.3% |
| Taxes, remuneration and social security | 45 | €3,238 | €4,907 | +€1,669 | +51.5% |
| Taxes | 450/3 | €3,238 | €4,907 | +€1,669 | +51.5% |
| Other amounts payable | 47/48 | €10,400 | €10,400 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,500 | €0 | -€2,500 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,573 | €10,805 | -€768 | -6.6% |
| Other operating charges | 640/8 | €26,853 | €995 | -€25,858 | -96.3% |
| Gross operating margin | 9900 | €17,113 | €36,335 | +€19,222 | +112% |
| Operating profit (loss) | 9901 | -€21,314 | €24,535 | +€45,849 | |
| Financial income | 75/76B | €994 | €1,630 | +€636 | +63.9% |
| Recurring financial income | 75 | €994 | €1,630 | +€636 | +63.9% |
| Financial charges | 65/66B | €1,673 | €841 | -€832 | -49.7% |
| Recurring financial charges | 65 | €1,673 | €841 | -€832 | -49.7% |
| Profit (loss) for the period before taxes | 9903 | -€21,993 | €25,324 | +€47,317 | |
| Income taxes | 67/77 | €0 | €1,907 | +€1,907 | |
| Profit (loss) for the period | 9904 | -€21,993 | €23,418 | +€45,410 | |
| Profit (loss) for the period to be appropriated | 9905 | -€21,993 | €23,418 | +€45,410 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.